Both companies said the service will continue to be openly available to others with the “same access” to its API (application programming interface).

According to Axios, the deal is valued at around 400 million dollars and Giphy is expected to keep its own branding.

Giphy, which launched in 2013, said: “More than one billion people use Instagram to communicate how they’re feeling and what they’re passionate about — we can’t wait to help those people become even more animated!”